Oakley published a statement on its Web site announcing that "Based on UCI’s decision today and the overwhelming evidence that USADA presented, Oakley has severed its longstanding relationship with Lance Armstrong, effective immediately."

Oakley says it viewed Armstrong as a symbol of possibility when the corporation decided to start a relationship with him, not detailing if the possibilities pertained to additional revenues from Oakley product sales or to personal possibility for Armstrong's many fans at the time.

Oakley added "We are deeply saddened by the outcome, but look forward with hope to athletes and teams of the future who will rekindle that inspiration by racing clean, fair and honest."

"We believe the LIVESTRONG Foundation has been a positive force in the lives of many affected by cancer." Oakley thus confirmed its continued support for Livestrong.